Enterprise Social Networks and Online Communities Market

Market Study on Enterprise Social Networks and Online Communities: Market Benefitting from High Social Media Usage by Enterprises

Enterprise Social Networks and Online Communities Market Segmented By Small Enterprises, Medium Enterprises, Large Enterprises in Healthcare, BFSI, IT and Telecom, Government, Retail and Consumer Goods Industry

Enterprise Social Networks and Online Communities Market Outlook (2022-2032)

The worldwide enterprise social networks and online communities market is anticipated to rise at a CAGR of 13.9%, growing from its present value of US$ 7.3 Bn to US$ 27.6 Bn by 2032.

The United States currently accounts for 23.2% share of the global market. Moreover, the large enterprises segment holds 70.8% share of the global market.

Enterprise Social Networks and Online Communities Market Size (2022)

US$ 7.3 Bn

Projected Market Value (2032)

US$ 27.6 Bn

Global Market Growth Rate (2022-2032)

13.9% CAGR

Market Share of Top 4 Countries

37.5%

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Companies

  • Google, Inc.
  • Lithium Technologies Inc.
  • TIBCO Software Inc.
  • SAP SE
  • Salesforce
  • VMware
  • Cisco Systems
  • IBM Corporation
  • Vanilla Forums
  • Zimbra
  • Axero Solutions
  • Igloo Software
  • Zoho Corporation
  • Aurea Software Inc.
  • SocialText Inc.
  • Microsoft Corporation
  • Others.

Demand Analysis of Enterprise Social Networks and Online Communities (2016-2021) Vs. Market Forecasts (2022-2032)

Over the 2016-2021 historical period, the global enterprise social networks and online communities market rose at a CAGR of 14%.

Enterprise social networks and online communities have considerably improved internal employee collaboration due to the convenience of information sharing and communication. The constantly rising user base of social media worldwide is the most significant element responsible for the advent of social networks in the corporate sector.

  • In 2019, the average individual spent more than 3 hours daily on social media networks worldwide. As a result, enterprise social media has developed as a potent tool that can alter internal corporate collaboration.

Employees can interact, collaborate, and share information informally through enterprise social networking technology. The idea behind incorporating social media into enterprises is to encourage networking and sharing among people instead of broadcasting information to the general public.

The global enterprise social networks and online communities market has grown rapidly as a result of the enormous ease in communication provided to employees. This may include sending documents, short messages, updates, videos, and links to other employees.

During the forecast period (2022 to 2032), the global enterprise social networks and online communities market is projected to rise at a CAGR of 13.9%.

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On What Grounds is the Enterprise Social Networks and Online Communities Market Expected to Expand?

“Rising Use of Social Network Platforms among Enterprises”

Numerous social network platforms, such as Google+, are rapidly being employed in different types of organizations. Many businesses and professionals widely utilize such platforms for communication and sharing documents/files and information.

Furthermore, professionals engage with other organizations outside the company with the goal of various job-related opportunities and openings, besides participating in marketing and promotional activities.

Moreover, organizations spend a significant amount of money on advertising the launch of new items, product details, and other incentives to boost sales and improve brand awareness online. Companies are also interacting with their business associates in real time via such platforms and portals.

Such factors are expected to boost the growth of the global enterprise social networks and online communities market during the forecast period.

“Increasing Acceptance of BYOD Culture”

The bring your own device (BYOD) culture is garnering acceptance in a variety of corporate settings. This phenomenon is projected to offer considerable prospects for growth in the global enterprise social networks and online communities market during the forecast period.

Organizations in a variety of industries are embracing BYOD technology to cut company expenses involved with PCs, laptops, and devices, among other things. BOYD enables employees to communicate with co-workers and clients in real time. Major corporations can seize these chances by offering unique solutions and acquiring a competitive advantage in the market.

“Strong Usage of Content Analytics”

Content analytics is one of the significant factors anticipated to propel the global enterprise social networks and online communities market during the forecast period. Organizations can use analytics to track social interactions connected to the service or product they provide in the market. Furthermore, firms can use analytics to comprehend their company's image through statistical analysis.

Organizations can make decisions based on the data offered by such analytics tools regarding growth, product trends, and failure. This is another significant factor anticipated to propel the global enterprise social networks and online communities market.

  • For instance, Alcatel-Lucent, an IT and telecommunications company, uses enterprise social networking applications to process data and do numerous analytical assessments to understand the many difficulties that the organization is experiencing. Alcatel-Lucent also uses this technology to communicate with its numerous offices throughout the world.

“Growing Adoption in Government Sectors & Manufacturing Industry”

The government sectors and manufacturing industry are fast embracing enterprise social network technology due to the rising demand among employees in these industries and sectors to communicate externally and internally.

In nations such as the United Kingdom and the United States, numerous government bodies such as security and law enforcement, healthcare, and multiple other ministries encourage the use of enterprise social network platforms to allow connectivity between employees and the general public, enabling real-time propagation of essential information.

Moreover, this technology is increasingly being used in the manufacturing industry for objectives such as enhancing work efficiency and evaluating progress, among others. Such aspects are projected to bolster the global enterprise social networks and online communities market.

“COVID-19-Induced Lockdowns Presented Good Growth Prospects”

The advent of COVID-19 resulted in country-wide lockdowns, which led to remote work, virtual sales pitches, virtual hiring, team building, and networking over in-person gatherings and meetings to do business.

As a result, participants in the global enterprise social networks and online communities market have benefited from the COVID-19-induced lockdowns.

  • Preciate, for example, launched new enterprise capabilities for Preciate Social in February 2021, which provides virtual networking, hiring, onboarding, marketing, and team building with innovative capabilities such as one-click entry and extended room capacity.

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What are the Potential Challenges for the Market?

“Lack of Effective Security to Combat Cyberattacks”

A key difficulty that companies face is a lack of effective security. When organizations collaborate online via social networking platforms, they become vulnerable to cyberattacks, such as illegal access to crucial corporate data.

Incorporation of CRM (customer relationship management) or ERP (enterprise resource planning) with enterprise social networks makes it easier for vendors, clients, and other users to obtain a company's content, which reduces the demand for social networking platforms among businesses.

As a result, these issues are projected to stifle the global enterprise social networks and online communities market growth during the forecast period.

“High Cost of Installation – A Market Dampener”

Enterprise social networking is cutting-edge technology. Since the cost of installing enterprise social networks is high, such a system may pose a financial hardship to small and medium-sized businesses. Moreover, IT expansion and employee up-skilling are required to utilize this technology in enterprises.

Furthermore, this technology necessitates the incorporation of other business technologies for enterprises to share content and collect customer data.

As a result, these factors are projected to limit the growth of worldwide enterprise social networks and online communities market over the forecast period.

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Country-wise Insights

Which Country Holds the Largest Market Share in the World?

The United States accounts for 23.2% share of the global enterprise social networks and online communities market. This is due to a substantial prevalence of social media networks in the country.

Moreover, the United States is one of the world's top ten nations in terms of social media network penetration.

Furthermore, the presence of various firms such as Jive Software, Inc., IBM Corporation, Microsoft Corporation, Communispace Corporation, and a few others is a major aspect projected to accelerate the growth of the enterprise social networks and online communities market in the United States.

Category-wise Insights

Why are Large Enterprises the Largest Revenue Generator for This Market?

The large enterprises segment holds a 70.8% share of the global enterprise social networks and online communities market. Since large enterprises have more capital to invest and a stronger worldwide presence, the large enterprises segment is expected to be the largest revenue generator in the enterprise social networks and online communities market during the forecast period.

Large enterprises use enterprise social networks and online collaboration platforms to interact with employees all over the world, advertise their products, and evaluate user behavior connected to those products.

Moreover, due to the increased adoption of enterprise social network platforms, it is projected that demand for services such as consultation and installation among large enterprises will rise exponentially during the forecast period.

Competitive Landscape

The global enterprise social networks and online communities market is still in its early stages, with limited penetration across several industrial verticals. Due to the vast number of companies, the market has become increasingly competitive.

A majority of firms prioritize regular software updates to improve user experience, platform look-and-feel, and convenience. This pushes end-user firms to implement enterprise social networks and online communities to improve employee engagement.

Leading providers of enterprise social networks and online communities are adopting marketing methods such as investments, collaborations, new product developments, acquisitions, technological developments, and R&D activities to boost their international presence.

For instance:

  • In November 2021, Facebook, a social media company based in the United States, merged Microsoft Teams with Facebook Workplace. Users can utilize this integration to send content from the Microsoft Workplace newsfeed into the Microsoft Teams platform.
  • In October 2021, Microsoft Corporation, based in the United States, acquired Two Hat, a prominent provider of content moderation solutions. This acquisition contributes to the development of online safety and digital wellness solutions for online communities.
  • In March 2021, eXo platform, an enterprise social networking application provider, released its newest version - eXo platform 6.2. This new edition lets users quickly create and approve events using date polls.

Enterprise Social Networks and Online Communities Industry Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2016-2021

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Enterprise Type
  • Industry Type
  • Region

Key Companies Profiled

  • Google, Inc.
  • Lithium Technologies Inc.
  • TIBCO Software Inc.
  • SAP SE
  • Salesforce
  • VMware
  • Cisco Systems
  • IBM Corporation
  • Vanilla Forums
  • Zimbra
  • Axero Solutions
  • Igloo Software
  • Zoho Corporation
  • Aurea Software Inc.
  • SocialText Inc.
  • Microsoft Corporation

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Enterprise Social Networks and Online Communities Industry Research Segmentation

By Enterprise Type:

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

By Industry Type:

  • Healthcare
  • BFSI
  • IT & Telecom
  • Government
  • Retail & Consumer Goods
  • Others (BPO and Education)

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- FAQs -

The global enterprise social networks and online communities market is forecasted to expand at a CAGR of 13.9% from 2022 to 2032.

The global enterprise social networks and online communities market is valued at US$ 7.3 Bn in 2022.

The global market for enterprise social networks and online communities is expected to reach US$ 27.6 Bn by 2032.

The United States accounts for the highest share of 23.2% in the global market.

Lack of effective security and high installation cost are the main factors expected to limit global market growth.

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